When we were sleeping ….

…. a massive earthquake reduced the financial world to rubble. First, Globalization changed the business landscape – intensified global competition energy constraints, and politically instability will keep the tectonic plates keep shifting all the time. Second, the global economic crisis also challenged the long believed notion of market’s invisible hand serves as an instrument to correct the imbalance. Uncertainty is an opportunity for those who are prepared. Third, more and more government regulation is creeping into corporate governance. For foreseeable future, government is going to take a keep interest in how businesses are run. We all need to learn new skills and mind-set that will allow us to partner with government than fend it off. Finally, we, human beings, are fundamentally irrational and motivated by unconscious cognitive biases. Even after we emerge from the recessions, our, as consumers, behavior is now shifted more towards thriftiness and desire for simplicity.

When the economy recovers, do you think things will be back to normal as usual? Would like to hear your views and experiences dealing with crises, managing crises, and managing collaboration and innovation without loosing our competitive edge.